Industry 4.0 termed as the “Fourth Industrial Revolution” which is here to bring in automation globally. This revolution is happening by adopting various technologies such as Cloud Computing, Augmented Reality, the Internet of Things (IoT), Data Integration, etc. These technologies are introduced to optimize business operations and enhance efficiency.
The major motto is to integrate all the business processes which are done through manual power and replace them with these technologies. This can be rightly said as, grabbing the data with technology like IoT, handling the data, and figuring out future insights, storing dozens of data through Cloud Solutions, etc.
In this blog, we have discussed the impact of Industry 4.0 in the Middle East and how it could pave the way for accelerating the businesses.
Role of Industry 4.0 in the Middle East:
Industry 4.0 maturity model is here to bring “Smart Factories” where the repetitive and complex tasks are handled by these technologies in a very simple way which can reduce the time and cost as well as increasing the productivity of the industries.
On the other hand, it also includes Robotics, Artificial Intelligence which can offer automation. Embedding all these technologies in a global value chain can integrate both physical and virtual worlds. This change can enable a powerful way of organizing business operations.
In particular, industries that require large-scale production as the basic priority can automatically enable a powerful way of organizing the operations. Companies implementing Industry 4.0 can enjoy numerous benefits.
Most of the Leading Industry 4.0 Companies in the Middle East have found this strategy to be more effective and beneficial since they gain results within a short span of time. Moreover, Industry 4.0 is predicted to bring in smart industries to manage the processes which are either offline or work over little network connectivity.
Experts predict that Industry 4.0 will provide a huge industrial market with revolutions. Gartner predicts that the Internet of Things (IoT) market will reach $3.7 trillion by the end of 2020. Similarly, the Cyber Security market will reach around $183 billion by the end of 2020.
In addition to the above technologies, digital and wireless communication will be powered by 5G networks which can boost the economic growth in regions where there are no traces of mobile technology.
For instance, security, speed, low latency, and a massive number of connections in 5G will lead to smart city and agricultural transformation in most countries in particular in the Middle East. Added, it will also accelerate new revenues from IoT applications and industrial applications to bring in digitizations.
Agriculture 4.0 will transform both the demand side and the value chain/supply side for food scarcity by adopting new technologies to meet the needs of the customers. Most of the Arab countries are focusing on expanding their Agricultural and conducting tests by adopting technologies.
The Middle East region is known for its largest mining and for oil & gas operations. Hence, to digitize the processes, the Internet of Things can be implemented. To facilitate this, 5G connectivity can be a perfect choice. To prove this true, a case study in Sweden has said that implementation of 5G has reduced the costs by 1% to enhance communication.
How can Industrial IoT companies in the middle east benefit from 4.0 Technologies?
By adopting the above mentioned technologies, businesses can experience the following set of benefits regardless of the services they offer:
Enhanced Decision Making
This Industry 4.0 doesn’t just automate the processes but also efficiently handles the business ecosystem. It offers an opportunity to interact with suppliers, customers, investors, and other stakeholders.
Connectivity across devices can provide data insights with the gathered, which can be further analyzed and interpreted completely. This can, in turn, offer enhanced decision making with business intelligence hassle-free.
Converting Supply Chain
Companies are completely dependent on the supply chain to stand out from the crowd. With Industry 4.0, “Smart Factory” can be easily created by connecting the supply network with logistics and performs the planning and inventory process.
Exceptional Customer Experience
Moreover, it also impacts customer interactions with products and services. It can therefore address the real-time Industry 4.0 challenges of the customers and resolve them completely. Research states that approximately 90% of B2B buyers conduct online research while purchasing materials. Hence, to enhance and improve the customer experience, it is important to implement “Industry 4.0”.
Industry 4.0 Technologies are here to transform customer experience in both digital and physical environments. Businesses and enterprises which are looking to convert their solutions can make use of these technologies and work on challenges.
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